BSE Sensex crosses 29,000 Mark, Sets New Record

A benchmark index of Indian equities markets recorded a new high of 29,060.41 points in Thursday’s intra-day trade ahead of a possible European Central Bank (ECB) stimulus announcement. The barometer index closed at a new high of 29,006.02 points, up 117.16 points or 0.41 percent from its previous close of 28,888.86 points. Healthy buying was observed in healthcare, capital goods, automobile, banking and metal sectors, while selling pressure was seen in consumer durables and oil and gas scrip.

The 30-scrip Sensitive Index BSE Sensex, which opened at 28,957.79 points, closed the day’s trade at 29,006.02 points, up 117.16 points or 0.41 percent from the previous day’s close at 28,888.86 points. The Sensex touched an intra-day high of 29,060.41 points and a low of 28,892.23 points. “Equity has conquered back on optimism led by liquidity and improvement in world economy,” said Vinod Nair, head-fundamental research, Geojit BNP Paribas Financial Services.

“So ahead of this crucial ECB meet, market consolidates hoping to reclaim lost confidence as global concerns gets addressed, starting from QE (quantitative easing). Based on the outcome, compared to expectation we can see immediate short-term action.” The S&P BSE healthcare index gained by 255.92 points, capital goods index moved up by 186.83 points, auto index was up 140.73 points, bank index was higher by 83.64 points and metal index rose 69.44 points.

However, consumer durables index was down 99.55 points and oil and gas index dropped by 76.53 points.  The wider 50-scrip Nifty of the National Stock Exchange (NSE) too touched a new high of 8,774.15 points in the intra-day trade. It closed the day’s trade 31.90 points or 0.37 percent up at a new closing high of 8,761.40 points.

The major BSE Sensex gainers were Sun Pharma, up 3.65 percent at Rs.918.35; Axis Bank, up 3.30 percent at Rs.564.95; Tata Motors, up 2.70 percent at Rs.566.30; ONGC, up 2.01 percent at Rs.352.40; and Cipla, up 1.73 percent at Rs.654.15. The losers were NTPC, down 2.44 percent at Rs.140.20; Reliance Industries, down 2.27 percent at Rs.884.10; Hero MotoCorp, down 1.33 percent at Rs.2,838.15; Maruti Suzuki, down 1.02 percent at Rs.3,597.70; and ITC, down 0.64 percent at Rs.350.35. (IANS)